The African continent is poised for significant economic growth in 2024, surpassing the projected global average, according to the latest Macroeconomic Performance and Outlook (MEO) report released by the African Development Bank Group. Eleven African nations are forecasted to be among the world’s 20 fastest-growing economies, which include Rwanda, Tanzania, Togo, and Uganda. The continent’s real gross domestic product (GDP) is expected to grow by 3.8% in 2024 and further increase to 4.2% in 2025, outpacing the global average projections of 2.9% and 3.2%, respectively. Africa is positioned as the second-fastest-growing region globally, second only to Asia.
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